The 3 investment excuses you might be using, and how to avoid them
Brett Alegre-WoodChairman, YPC Group
Hey guys,
I see it all the time, people who should be building a strong foundation of wealth through property that are simply trapped in their own fear and procrastination.
Getting started is the hardest part about investing. It's the gigantic first step that just seems too far to take.
Since 1994 I have been selling property in some form or another and for that entire time the same reasons for not getting started are repeated over and over. It almost becomes a mantra of the 'lost soul investor'.
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These reasons break down into three categories, or excuses.
The first category is the FEAR excuse
Fear represents about 80% of all excuses. False Education Appearing Real as I like to say. Most people in this category know deep down that they need to do something. They know it's the right thing to do but they just won't make the decisions necessary to take some action. But their lack of education keeps them stuck, rules their success and ultimately will be their financial downfall.
The highly effective investor takes positive action to educate themselves. If they feel fear, they recognize it for what it is -- a sign that they need to dig deeper and ask more questions.
The second category is the RELATIONSHIP excuse.
Around 5% of investors fail to take action because they perceive they don't have the required relationships to take action. It centres around not trusting the people who can assist you to get started.
Relationships are key to building any size portfolio, even if you are an absolute control freak. You'll need to build those relationships if you are to command any level of wealth.
The highly effective investor will take action. They will work to develop the relationships that are necessary and make sure that their partners have guarantees in place to take away their risk.
The third category is the MARKET excuse.
Around 15% of investors fail to take action because they don't believe it's the right time. 'I'll do it next year!', ' Just waiting for the market to change!', 'Soon but not quite yet!' And 'I think rates are going up, down, staying where they are!'
The highly effective investor knows that waiting is a strategy for others. Instead, they take action.
Read all the books, attend all the seminars, the world is full of frustrated seminar junkies hoping that the magic light will shine down upon them and strike them with success. We all know this just doesn't happen.
Get educated while taking action puts you in real time situations, problem solving, responding, practising, allowing your emotional intelligence to grow and expand. Before long what appeared as the impossible will become easy.
Along the way you will meet the brokers, solicitors, letting agents, sourcers, handymen all of whom you can build a great relationship with. Some will not work out and you will learn from them, others will turn into your lifelong friends.
As for the market, well as your education grows so to will you understanding of the market and the specific strategies that apply in every market, including and especially when the market is falling. Sure it might sound crazy but you won't believe some of the deals you will negotiate in a falling market.
So rather than make excuses, become a highly effective investor and call the team in 0207 812 1255 they will show you how to access all the free education. After that? Well - the action is up to you. We will of course be there to hold your hand, guarantee our performance and show you the path.
Happy journeys.
Live with passion,
Brett Alegre-Wood
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